Gold mine found under Andean glaciers!

An ambitious gold mining project in northern Chile, high up in the Andes close to ancient glaciers, is finally getting under way amid the economic downturn despite fears from environmentalists. Assurances the vast project will create some 5,000 badly needed jobs, have failed to overcome skepticism that the project, more than 16,000 feet above sea level, could impact on the vast mountain wilderness. Mining officials have said glaciers Toro 1, Toro 2 and Esperanza will not now be removed, as had been called for in the initial proposal put forward some 15 years ago by Canadian company Barrick Gold. The glaciers cannot be “moved, displaced, destroyed or physically altered” under the conditions set by the Chilean authorities when they approved the plan. But Barrick still plans to construct one of the world’s biggest gold mines straddling the Chilean-Argentine border, and has just began construction at the Pascua Lama site on the $3 billion project. Gold production is set to begin in 2013, and have a lifespan of some 25 years. Chilean Environment Minister Ana Lya Uriarte portrayed the project as a delicate balancing act. “We will not allow damage to our glaciers,” she said. “The project was approved with a series of conditions and demands whose importance is tantamount.” But environmentalists are unconvinced. “This begins the plundering of our mountains,” said one of the protesters, Mauricio Rios, leader of the Huasco Valley Defense Council. The gold seam is estimated to hold 17.8 million ounces in reserves. At a production cost of $20 to $25 an ounce, it will be one of the most cost-effective gold mines in the world, Barrick says.